Jimmy John's Drive-Thru | 20 Yr Ground Lease | 15237 N 87th St
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Jimmy John's Drive-Thru | 20 Yr Ground Lease 15237 N 87th St
2,180 SF Retail Building Scottsdale, AZ 85260 $2,700,000 ($1,239/SF) 5% Cap Rate
Investment Highlights
- Brand New 20-Year Absolute Triple-Net (NNN) Ground Lease
- 10 Percent Rental Increases Every Five Years with Four, Five Year Renewals
- 50+ Unit Jimmy John's Franchisee
- Scottsdale - High Barrier to Entry Market
- New High-Quality 2024 Construction
- Excellent Location in North Scottsdale Retail Corridor, Adjacent to Walmart
Executive Summary
Specializing in fast sandwich delivery, Jimmy John's has expanded to more than 2,800 locations over 30 years, with 98% franchise-owned. Jimmy John's has averaged approximately over 200 location openings per year over the past three years.
Adjacent to the Greater Phoenix Area, Scottsdale is known as “the West’s most Western town” and was described in the New York Times as “a desert version of Miami’s South Beach.” With a population of more than 240,000, the City of Scottsdale is among Arizona's ten largest cities. Scottsdale continues to be recognized nationwide as one of the top markets for business performance, job growth, livability, and friendly culture.
Adjacent to the Greater Phoenix Area, Scottsdale is known as “the West’s most Western town” and was described in the New York Times as “a desert version of Miami’s South Beach.” With a population of more than 240,000, the City of Scottsdale is among Arizona's ten largest cities. Scottsdale continues to be recognized nationwide as one of the top markets for business performance, job growth, livability, and friendly culture.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,180 SF
Year Built
2024
Construction Status
Under Construction
Price
$2,700,000
Price Per SF
$1,239
Cap Rate
5%
NOI
$135,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Land Acres
0.64 AC
Nearby Major Retailers
-
Power Broker Mark Ruble -
Power Broker Christopher Lind -
Marcus & Millichap
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Jimmy John's Drive-Thru | 20 Yr Ground Lease | 15237 N 87th St
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